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Pakistan International Airline is Near to Ban For Unpaid Dues

Saudi Aviation Autharoty May Ban Pia Over Unpaid Dues

The Pakistani Ministry of Finance ordered and also advise to Pakistan International Airlines for drafting a well-rounded plan for the releasing of payment, even highlighted Rs. 2.20 billion for Saudi civil aviation authorities and expressed deep concern over the growing debt.

It should be noted that the Civil Aviation Authority of Kingdom Saudi Arabia has threatened to Pakistan Airlines to stop all operations for unpaid taxes

PIA took Rs. 5.54 billion loans in term of interest, Rs 4.22 billion to non-government organizations and also owes PIA owes a debt of Rs. 15.16 billion from the federal government.

25 billion worth payment is expected to giving the Civil Aviation Authority of Kingdom Saudi Arabia during the time period of 1st January 2017 to 30th June 2017.

According to an official document, PIA still requires Rs. 3.48 billion in January. Rs. 5.11 billion in February, Rs. 3.25 billion in March, Rs. 3.28 billion in April, Rs. 6.50 billion in May and Rs. 3.69 billion in June for the issuance of freeze payments.

The Civil Aviation Authority of Kingdom Saudi Arabia gave the final warning to PIA otherwise the flight operations will stop in KSA. During the regime of PM Nawaz Sharif, the loan volume of PIA has crossed Rs. 185 billion in the past year.

 

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